Industry stumbles, jobless ranks rise

[rodeodance]

http://news.yahoo.com/s/nm/20070215/bs_nm/usa_economy_dc;_ylt=At02cNfiwnJvcgHV0y3pKJbMWM0F

Industry stumbles, jobless ranks rise

By Pedro Nicolaci da Costa 1 hour, 19 minutes ago

NEW YORK (Reuters) - Industrial output fell in January while the number of Americans filing for jobless benefits jumped sharply last week, according to a flurry of reports that raised doubts about the economy's health.


Massive cutbacks in the auto sector were the primary culprit for the 0.5 percent overall decline in industrial production, the largest one-month drop since September 2005.

A survey of Mid-Atlantic manufacturers suggested things were not getting any better in February, showing activity in the region was essentially at a standstill.

Winter storms were partly to blame for the longer unemployment lines, but even so some economists said the level of claims -- the highest since November -- was alarming.
...............

[saltpoint]

1. But the president has assured us that the economy is "robust."

Those tax cuts really did the trick, didn't they?

Bush's next 2 years are likely to be difficult at best on foreign policy alone. Throw in a tanking economy and I think his current 32% is going to plunge into the teens.

[petepillow]

9. "Economy is robust" = rich getting richer. The End.

I think I understand the terminology now. Strong economy means the wealthy are doing GREAT, weak economy means the wealthy are doing GOOD. Non-wealthy are irrelevant to this admin, except when they need to brainwash middle Americans for votes every 2-4 years. After all, weren't we reminded over and over that the rich are paying for all the lazy poor folk, thus they deserve more and more tax breaks?

[saltpoint]

11. If Dick Cheney and his big-oil fatcat pals are rolling in dough,

then I guess the economy must be "robust."

I think you nailed it down just right.

[Lasher]

14. If working peoples' wages increase, it's cause for concern that inflation will rise.

When the richest 1% are getting richer, that is a sign of prosperity.

[BluePatriot]

2. Looks like someone....

didn't get the memo to cook the books like usual.....

[WePurrsevere]

3. So how much higher will the unemployment figures increase after

Chrysler cuts 11,000 jobs? http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=2730329&mesg_id=2730329

As an average person how they see and experience the economy and most I know will tell you it's in the tank. x(

[Tandalayo_Scheisskopf]

4. It's been in the tank...

Since these guys first got selected. They started talking "recession" as cover for massive layoffs and it hasn't let up. We have been in a targeted economic downturn for 6 years and it is going to be a good while before things get better.

Their aim was to get rid of employees to raise profits, decrease taxes on the wealthy, suck the treasury dry. Plus many other things too numerous to mention here.

[area51]

7. Agreed. (n/t)

[VegasWolf]

5. In this era of globalization, 3000 good AmeriKan jobs are lost for each point the Dow Jones gains.

[tom_paine]

6. Damn, if even Bushevik PHONY NUMBERS show a "slight downturn"

What must the REAL SITUATION be?

[Doondoo]

8. And this comes BEFORE..........

.......Chrysler's announcement to cut 11,000 jobs and Masco's announcement to cut 8,000 jobs of their own. Things sure are lookin' up!

[UrbScotty]

10. So much for a 'single-state recession' in Michigan (nt)

[fooj]

12. Robust economy, my ass.

[4dsc]

13. Things are getting worse for the trucking industry!

I can tell you from point of view on the road, more trucks sitting more waiting for fewer loads.. I've never seen it this bad in over 5 years..

Lucky for me I'm stuck in Las Vegas.. 72 and sunny!!